Topic: Bitcoin is the new gold standard of the future - page 5. (Read 818 times)

Times change, and even if gold was without a doubt the best store of value that you could hope for thousands of years bitcoin is better in almost every aspect, probably the only disadvantage that it has compared to gold is that in the case of gold people can very easily understand its value just by looking at it, gold looks valuable and bitcoin is just a bunch of numbers on your computer screen and many people fail to see how that represents value.

I totally agree, but this is not something that just happens. Government supports it? I think this is not easy to agree on, moreover the government system of each country is different and the problems they experience are also different. Basically the most against btc or crypto are world bankers. If what we expect happens then they will lose. They won't let this happen.

In a world that are built on debt.... I seriously doubt that Bitcoin will solve the problems of this world. Yes, it can serve as a Store of Value for people that want to protect the value of their wealth, but it can also be disastrous for those same people when the Bitcoin price take a 80% dip in the price. (Like it did just after 2017)

Imagine having your wealth "stored" in Bitcoin and the price crash and takes 3 years to recover. (In that time, you cannot touch your wealth, because it will destroy it's value)

Also ...imagine storing your wealth and the opposite happen ===> A 800% increase in the price, like it did prior to 2017. (I was there... I owned cheap bitcoins ($300) and the price went to $18 000 and a few years after that to $50 000+ when I sold some)  

It might be, but I have a doubt about it since as of these days fiat and crypto currency are the best partner both physical and digital currency to coexist. This goes the same to Gold and Bitcoin both are physical and digital asset that has a store value increasing over the years.

Both fiat and crypto have their own pros and cons and it is up to us to figure it out since no matter what you choose the outcome is almost the same. Although the difference is quite big and different but people are still persistent and keep using both so it doesn't matter what we choose as long as it gave us the freedom we want from the government.

We all have different expectations of bitcoin in the future and some of it might happen while some of it may not. In terms of preference, we cannot force people to choose bitcoin over gold because for sure, they have their own reasons for doing so. It should not even be a competition too, the value of bitcoin and gold is both very high and could both be an ideal storage of your investment. In the future, we might actually see bitcoin becoming a recognized currency or if the predictions would come to life, it might be the very single currency the whole world will be using.

bitcoin is still a dream and will always be like that at least for the next few years it is not wrong to categorize this currency as a very beautiful treasure.
regardless of the standard you say I don't care because to me if btc is measured by the standard you say it will look like it's not a very strange thing anymore and become commonplace because it has created a standard as you say because if it is usually one of the goods or whatever it is what is used as a standard will usually only be stuck in place because their standards have been thought of to what extent.
other than that bitcoin will still be bitcoin and will stay that way at least for the next few years so I don't really understand why some people consider bitcoin to be a substitute for a country's currency?
I don't really mind the opinion because it's legal but the fact is until now it's also clear that bitcoin is an alternative and will be like that at least for the next few years and even to the end.

It will take time for bitcoin to cross gold market cap as it is currently at 11 trillion dollars market cap and btc is at 846 billion dollars so we can say the prices need to cross $500k for that levels to reach.Above it all gold is giving negative returns as investors momentum has shifted towards other sources of investment and choices change with technology upgradation so is the case with bitcoin and gold.Bitcoin is far much better than gold in every aspect which all will soon realise and then we will see btc growing at rapid pace.

Early adopters I guess still includes China despite them rejecting BTC this time. I'm sure their authorities had confiscated a lot.

But how devastating could it be if a country loses its privatekey to thier BTC wallet?
I suppose military men guard and protect the vaults of the documents where they keep their private keys, probably multisig too. I think there will be lots of attempts. I'm just imagining what the future will be like.

This is for sure, currently the price of BTC is also a currency, and considering the current digital gold there are many people who store and consider BTC more precious than gold. Even I consider BTC more precious than gold, I can call it a diamond.

I do agree quite well that bitcoin will top in the range for instrument to saving in the future but that a country will totally abandon her local currency for bitcoin is still a big debate. To start with, I don't think El Salvador has stopped using her local currency and dollar so that also shows us how it will be difficult a thing to achieve, tradition is difficult to change and fiat is such.

At present wold, we will see in the near future all transactions made by digitalization so we have to wait someday already all of the counties one by one trying to give legality so near future Bitcoin will be the standard gold. If we invest in gold we cant expect more 2X money But if we invest in Bitcoin we will see 2X or 3X in the near future.

I'm sorry, but that poorly-written article is nothing but a bunch of horse shit.  Gems like this make me want to slap the author:


Bitcoin isn't "disrupting the gold standard" because there is no gold standard anymore, which the article itself mentioned.  That phrase has a very specific meaning, which seems to have eluded whatever knuckle-dragger who wrote this piece.  Nor is bitcoin competing with the dollar, the peso, yen, or any fiat currency.  Why?  Because people actually spend fiat when they want to buy things, whereas only a minority of bitcoin holders spend spend it regularly (and they're smart not to, IMO). 

Even if fiat all over the world were to collapse all at once, people would probably start using precious metals again or, if they were to use crypto it wouldn't be bitcoin exclusively.  I bet you other coins would serve as currency just as much as bitcoin would, namely those coins with faster confirmation times and lower fees--and that's assuming the world was still functioning after all the fiat currencies collapsed.

Drivel.  That's what this article is, nothing more.

Guess I would say it's already a Global Currency (not the so called One World Currency) if anyone from any part of world can use or store Bitcoin. Doesn't necessarily have to be used by National governments for it to be seen as global currency. We could still have multiple global currencies as long as they are decentralized, safe and neutral currencies anyone can freely, easily and safely use without restrictions.

As far as I know, BTC and a number of other cryptocurrencies are now used mainly as a means of saving and increasing their money. That is, people buy BTC in order to sell it in the future and make more money. As for the gold standard and the use of BTC for payments around the world, it is too early to talk about it. The fact is that BTC as a gold standard must first be recognized by someone, and this requires legal grounds, without this word remain just words. As for the use of BTC for payment, there are also problems here, since at the moment these services, if any, are in small quantities. So I think BTC needs a little more time so that it could even more gain a foothold in our real world and then it will probably be able to become more than just a cryptocurrency.

Bitcoin is an encrypted digital currency that relies on the Internet and blockchain technology to operate.The design goal of Bitcoin is to make it a decentralized and distributed open source peer-to-peer currency system, and it does not require the participation of trusted third parties during its operation. The price of Bitcoin can impact the value of gold and various legal currencies.

Bitcoin is a new type of digital gold, which is the natural development result of legal tender to digital currency.

Based on what I observed over time, BTC surpassed gold in several ways sometime back which became the talk of the town and helped spread awareness related to it and cryptocurrencies overall.

As an investment asset, BTC is way better than gold. On the other hand, as a currency, gold is still better than BTC.

It seems unlikely that it will happen. Bitcoin has experienced two major crashes and countless smaller crashes, and is now back on the upward path. But as long as Bitcoin supporters continue to believe in Bitcoin, Bitcoin will be valuable; others can benefit from it even if they do not agree with this belief. Thanks to the beliefs of Bitcoin's true believers, Bitcoin will continue to be a good choice for investors.

Bitcoin is digital gold for the following reasons:

• Bitcoin has the highest market value among digital currencies, and it is also the foundation of the digital currency market;
• The total amount is limited;
• The product of Internet development has no institution or state support behind it, and it is fair;
• Its value is slowly recognized by the public;
• Compared with gold, its authenticity identification, division, carrying and storage are more convenient;
• Programmable currency can meet the needs of charities and government agencies to solve corruption.

I believe that the value of Bitcoin will become higher and higher in the future.

I believe nobody's read The Bitcoin Standard by Saifedean Ammous here.
The book analyzes the historical context of BTC's emergence, the economic properties that allowed it to grow rapidly, and its possible economic, political, and social implications.

Ammous takes the reader through a fascinating journey along the history of technologies that have held monetary functions, the reasons for their adoption and subsequent loss of their monetary role, helping to understand what can really be a healthy form of money that can steer society towards peaceful modes of cooperation, with positive effects on capital accumulation, economic growth, and the stimulation of cultural and artistic creativity. Saifedean shows us that the highest peaks reached by mankind have been possible precisely in those societies with sound monetary regimes, while every monetary collapse has inevitably caused a social collapse as well.

With a perfectly predictable monetary policy that makes it an excellent store of value, functioning through decentralized software that creates a chain of immutable transactions, BTC allows users to transfer value in minutes across the globe without having to rely on central authorities. BTC's a form of digital gold with a built-in payment and transaction settlement system.

Do yourself a favor, buy and read the book

https://saifedean.com/thebitcoinstandard/

I'm always not comfortable comparing Bitcoin to gold because despite the fact that gold is a valued asset it's still not secure. Bitcoin despite it's open source it's data integrity is highly maintained and can't be manipulated by greedy investors. Both gold and Bitcoin maintain their respective indentity.
Bitcoin uniqueness has surpassed mordern and ancient currency civilization but the aspect of it's resistance to censorship happen to be the main reason most government authority will keep fighting against the adoption of crypto currency most especially Bitcoin because bitcoin is posing a big treat on their ability to centralize the general transactions and database of it's citizens